ctrl+f, "finite": 0 of 0 ctrl+f, "supply": 0 of 0 Very disappointed by the quality of the discussion in this thread.
You seem to complain but not contribute. Can you explain maybe why the discussion around the funniest supply important?
What Goldman Is Telling Big Money Clients About Bitcoin
71–80 of 93 posts
Re: What Goldman Is Telling Big Money Clients About Bitcoin
#72Earlier quoted context omitted.
Currencies aren't backed by bonds.
Bonds comprise the vast majority of assets on the balance sheet of the central bank, so why not? When gold was the primary asset on the balance sheet of central banks, we said that their currency was backed by gold. So why isn’t it backed by bonds now, when they have replaced gold in this regard?
https://en.wikipedia.org/wiki/Fiat_money
Bonds have value because we assign a dollar value to them. The dollar value itself is fiat currency. The bonds do not value to dollar, the dollar values the bond.
Re: What Goldman Is Telling Big Money Clients About Bitcoin
#73Unfortunately, this is a pretty standard fluff piece with not much information. Would love to know what Goldman actually thinks about the prospects of cryptocurrency and distributed ledgers, but"real dollars are at work here and warrant watching" is the only shred of information this article give.
What it literally says isn't important- what is important is that it represents GS acknowledging crypto as an asset class in a non-dismissive way
Re: What Goldman Is Telling Big Money Clients About Bitcoin
#74Earlier quoted context omitted.
My guess is they will tank since their value is driven by speculation right now.
Hard to say, more and more BTC in particular is being used as a shelter from the woes of fiat currencies. It's not the first time that a downturn in a fiat market leads to btc price increases as some players exchange their assets for btc.
How can you identify what growth is a 'shelter from fiat' vs mere speculation on technology ect when it's growing super fast all the time? There's no correlation with fiat currency value (except maybe in Venezuela) as far as I can tell
Re: What Goldman Is Telling Big Money Clients About Bitcoin
#75It seems Ethereum, Bitcoin and Litecoin are correlated but how will they do with a stock market downturn?
My guess is they will tank since their value is driven by speculation right now.
So far I believe cryptocurrency is one of, if the not the most, uncorrelated asset class.
https://www.forbes.com/sites/laurashin/2016/06/02/4-reasons-...
Re: What Goldman Is Telling Big Money Clients About Bitcoin
#76It seems Ethereum, Bitcoin and Litecoin are correlated but how will they do with a stock market downturn?
Probably poorly given they have a disproportionate number of retail investors and if these people lost their jobs crypto would undoubtedly be the first thing they liquidate to make ends meet. It also is unequivocally correlated to the market no matter what people will say.
Re: What Goldman Is Telling Big Money Clients About Bitcoin
#77Unfortunately, this is a pretty standard fluff piece with not much information. Would love to know what Goldman actually thinks about the prospects of cryptocurrency and distributed ledgers, but"real dollars are at work here and warrant watching" is the only shred of information this article give.
> Unfortunately, this is a pretty standard fluff piece with not much information.
Imagine if you had to write articles everyday to earn your paycheck.
Whether it is bloomberg or daily youtube vloggers, they have to put out fluff to make a living. You quickly run out of material and you have to sell fluff.
99.99% of media is useless fluff to sell you ads. Heck a lot of the articles themselves are ads ( for example, Tesla ads masquerading as articles ).
That's why the media are like a herd moving from one clickbait craze to the next. Many times they create the craze just to sell ads if nothing eventful happens.
Re: What Goldman Is Telling Big Money Clients About Bitcoin
#78Earlier quoted context omitted.
That's a totally valid use case. Bitcoin can be many things simultaneously.
strictly as an investment vehicle If by strictly, he means solely, then something that is strictly an investment vehicle makes no sense. The piper must be paid at some point. I can invest in shares of a company, but the shares aren't strictly an investment vehicle, they serve as a way for the company to acquire capital to put toward it's mission.
Gold is strictly an investment vehicle for all intents and purposes. The vast majority of its price is due to recognition as a store of value vs inherent utility.
It doesn't require a 'mission' to have value- the fact enough of society (still a small minority which actually invests or knows the price) recognizes that others recognize it has value allows it to fulfill exactly this function
Re: What Goldman Is Telling Big Money Clients About Bitcoin
#79Earlier quoted context omitted.
I see the appeal in those things for some people. But I think most people are happy to forego those things and not have to worry about losing significant chunks of cash to fat-finger mistakes or hacks. When most people barely know what a browser is, illuminating them to the intricacies of bitcoin seems a tall task. And if they can just use some system like Coinbase and "not even know they're using bitcoin," then they…
Bitcoin and other blockchains enable more or less trusted associations to form using side channels. A typical example is using off-chain collaboration to exchange signed transactions of deposited funds. It seems reasonable to consider trustless cryptocurrency as a base layer for "international settlement." Coinbase is significantly different from PayPal because of this final public settlement layer that is open and w…
That was my point. I don't see how using "side-channels" or "off chain" systems are materially different from using the Visa or the Kroner system, and then when you want a public settlement layer that is open and well-defined converting some funds from those systems to a crypto system. What's the difference?
Can't off chain systems be seen as simply analogous to transacting in deposited funds with paypal where your paypal password is the signature?
Maybe these systems send something out to a public blockchain, but you're still trusting them to honor withdrawals of your deposited funds in the same way you would with paypal, correct?
What is the actual use in practice of side channels and off chain systems these days?
Re: What Goldman Is Telling Big Money Clients About Bitcoin
#80Earlier quoted context omitted.
strictly as an investment vehicle If by strictly, he means solely, then something that is strictly an investment vehicle makes no sense. The piper must be paid at some point. I can invest in shares of a company, but the shares aren't strictly an investment vehicle, they serve as a way for the company to acquire capital to put toward it's mission.
Gold is strictly an investment vehicle for all intents and purposes. The vast majority of its price is due to recognition as a store of value vs inherent utility. It doesn't require a 'mission' to have value- the fact enough of society (still a small minority which actually invests or knows the price) recognizes that others recognize it has value allows it to fulfill exactly this function
Doesn't gold's role as a store of value ultimately rest on it's underlying potential utility and it's material scarcity. Crypto currency is anything but scarce these days, certain brands of crypto may be more or less scarce, but gold is not separated from other elements by a brand name over-top of substantially similar functioning and composition.